Initia Announces 50 Million INIT Token Airdrop: What You Need To Know

Layer-1 (L1) blockchain platform Initia unveiled plans to distribute 50 million INIT tokens as part of its upcoming crypto airdrop. This allocation represents approximately 5% of its total supply.

The tokens will go toward rewarding early supporters, including testnet participants, ecosystem partners, and social contributors.

Everything You Need To Know About Initia Crypto Airdrop

The majority of the airdrop, approximately 89.46% (44.7 million INIT tokens), is earmarked for 194,294 users actively engaged in Initia’s part one and two testnets in 2024. These participants played a crucial role in testing and refining the network’s infrastructure, ensuring its readiness for the upcoming mainnet launch.

“After years of building towards blockchain’s inevitable app chain future, testing thoroughly, and cultivating an economy of full-stack apps, Initia is ready to take the final march into the mainnet,” read an excerpt from the announcement.

Eligible users can verify their airdrop status, with claims available for 30 days following the main net’s debut. Beyond testnet users, Initia is also allocating 4.5% of the crypto airdrop (2.25 million INIT tokens) to active participants within its partner networks—LayerZero, IBC, and MilkyWay.

This allocation targets users with significant transaction histories, reinforcing Initia’s dedication to integrating with complementary blockchain ecosystems.

Initia Foundation also recognizes social contributors. Based on this, it dedicates 6% of the airdrop (3 million INIT tokens) to individuals meaningfully engaged with Initia’s community platforms, such as Discord, Telegram, and X (formerly Twitter).

This includes roles like Militia Captain, OG, and Initiate of the Week, highlighting the project’s appreciation for community-driven growth.

“The allocation is additive, meaning that a user with multiple roles will receive an allocation for each role,” Initia articulated.

This initiative mirrors Initia’s commitment to fostering a strong multichain ecosystem by acknowledging those who have contributed to its development.

Meanwhile, data on Cryptorank.io shows that Initia has successfully raised $25 million through four funding rounds. Notable investors include Theory VC, Delphi Ventures, Hack VC, and YZi Labs (formerly Binance Labs).

While this capital raise is only a fraction of its $250 million valuation, it bolsters Initia’s resources to advance the development of a multichain ecosystem. This financial backing positions Initia to further its vision of an interconnected blockchain environment, facilitating seamless interactions across diverse networks.

Crypto airdrops remain popular for projects to incentivize and reward their communities. Initia’s crypto airdrop adds to the list of projects to watch. Recently, BeInCrypto reported the top three crypto airdrops for the first week of April.

The report cited Walrus (WAL), a decentralized storage protocol on the Sui blockchain. Walrus launched its mainnet and token generation event (TGE) on March 27. The project allocated 10% of its 5 billion token supply for community rewards.

An additional 4% was distributed during the initial airdrop to early Sui ecosystem users and testnet contributors. The remaining 6% is reserved for future community incentives.

Nansen airdrop is also on the list, with active platform users and data contributors likely eligible to receive tokens. Similarly, OG Labs confirmed an airdrop for testnet participants. As BeInCrypto indicated, eligibility criteria include completing at least 20 transactions and active community engagement.

These airdrops present opportunities for crypto enthusiasts to engage with emerging projects and potentially benefit from their growth.

Nevertheless, to ensure legitimacy and security, participants should conduct thorough research and exercise caution when interacting with airdrop campaigns.